REAL ESTATE DEVELOPMENT
PropTech investment to grow 15% CAGR to $16 billion in 2030
India's real estate sector is transforming with a significant increase in PropTech investments. Focus areas include affordable housing, sustainability, and technology integration. PropTech aims to streamline transactions, logistics, and energy use, making housing more accessible and cities more sustainable. The sector's growth will address urban housing challenges and contribute to a more inclusive future.
MahaRERA recovers over Rs 200 crore from realty developers as compensation for homebuyers
Maharashtra Real Estate Regulatory Authority has recovered over Rs 200 crore from real estate developers. This compensation covers losses incurred by homebuyers. MahaRERA has issued 1,163 warrants to recover Rs 705.62 crore. Efforts include appointing retired officials to ensure effective recovery. The recovery process will potentially expand to more districts based on need.
Rs 200 cr recovered from realtors to compensate homebuyers, Rs 500 cr more payable: MahaRERA
MahaRERA recovers over Rs 200 crore from developers to compensate homebuyers, with Rs 378 crore pending in Mumbai and Pune. The authority has issued 1,163 warrants to recover Rs 705.62 crore. Efforts to expedite recoveries include appointing retired Tahsildars in Mumbai and Pune. Rs 304.45 crore and Rs 189.82 crore are still owed in Mumbai and Pune, respectively.
Housing prices in India's top eight markets increased by 11% in Q3 2024
Housing prices in India's top 8 markets rose by 11% in Q3 2024, continuing a 15-quarter growth streak. Delhi NCR led with a 32% increase, driven by luxury projects. Unsold inventory dropped for the third consecutive quarter, with Pune seeing a 13% annual decline. Developers are focusing on luxury and larger homes.
India home prices to rise 6.5% in 2025, driven by demand from wealthy: Poll
Home prices in India are expected to rise steadily due to demand from wealthy individuals, even as the cost of living makes property ownership unattainable for most people. The luxury segment drives this increase, while rents are forecast to grow even faster, pressuring more people into renting.
Once shunned, areas near Bhopal gas tragedy site now seeing real estate boom
The Union Carbide factory site of the 1984 gas tragedy in Bhopal has seen residential and commercial development over the years. Groundwater and soil contamination still exist. The disaster initially slowed Bhopal's growth compared to other state capitals. Development has increased, although many new developments nearby are informal and ignore environmental issues.
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In West Bengal's largest real estate deal, DLF JV firm sells IT park for Rs 637 cr to Primarc, RDB
DLF Cyber City Developers Ltd has sold Kolkata Tech Park 1, an IT park in Kolkata, to Primarc and RDB Group for Rs 637 crore. The transaction, which is the largest real estate deal in West Bengal, enhances shareholder value and supports Bengal's tech ecosystem.
DLF to sell Kolkata IT park for Rs 637 crore
DLF Info City Developers (Kolkata) Ltd. has signed an agreement to sell Kolkata Tech Park 1 to RDB Primarc Techno Park LLP for Rs 637 crore. This sale emphasizes good tenant partnerships and aims to enhance shareholder value. DLF plans to double its rental income by FY26, reinforcing its commitment to growth.
Five cities of India among the top 15 fastest-growing global urban centers by 2033
Bengaluru, Delhi, Mumbai, Hyderabad, and Pune are among the world's fastest-growing urban centers by 2033, driven by rapid urbanization, economic growth, and technological innovation. The government's infrastructure initiatives and policies promoting industrial resurgence are key factors in this growth, with a projected GDP surge of over 68%.
Realty sector business sentiment signals growth, sustained optimism, survey
Real estate stakeholders, including developers, financiers, and institutional investors, expressed optimism about the sector's outlook despite a slight dip in sentiment scores. Strong residential demand and stable commercial leasing, supported by favorable economic fundamentals, is driving the confidence. The Knight Frank ¨C NAREDCO study shows a positive future sentiment for the next six months.
Equinix continues India expansion, buys out Mumbai data centre landlord
Equinix Inc. has acquired the land housing its data centre in Mumbai¡¯s Chandivali for Rs 155 crore, enhancing its infrastructure. The data centre, operational since 2019, spans 58,000 sq ft. Equinix is also expanding with additional centres in Mumbai and Chennai, driven by India's growing demand for data facilities and technological advancements.
TARC reports Rs 1,350 crore pre-sale from Gurgaon project
TARC Ltd. reported Rs 1,350 crore in pre-sales for its luxury residential project, TARC ISHVA, in Gurgaon, representing 50% of the project's inventory. The strong demand fuels confidence in achieving fiscal year targets. The company also refinanced debt at a lower borrowing cost and highlighted progress on its TARC Kailasa project.
Arihant Foundations secures Rs 109 cr investment from Madhusudan Kela¡¯s family fund and CaratLane founders
Arihant Foundations & Housing Limited secures Rs 109 crore investment from investors including Lotus Family Trust and CaratLane founders. The Chennai-based real estate company plans to use the funds for expansion in South India, focusing on residential, commercial, and senior housing projects.
Sumadhura Group targets revenue of Rs 4000 crore from Hyderabad and Bengaluru projects
Sumadhura Epitome's inaugural phase encompasses a 3.5-acre site, offering a total saleable area of 4.38 lakh sq. ft. The first phase consists of towers, each 14 stories high, with 262 residential units with 2, 3, and 4 BHK bedrooms. Completion for this phase is scheduled for the end of 2027.
CREDAI wants 100pc deduction on interest paid on home loans to boost housing demand
CREDAI urged the government to increase the affordable housing price cap from ?45 lakh to ?75-80 lakh, reduce GST on under-construction homes, and offer a 100% deduction on home loan interest. These measures aim to stimulate demand, especially within the affordable and mid-income housing segments, and put more money in the hands of potential homebuyers.
India's 26 major listed realty firms sell Rs 35,000 crore worth properties in Q2; Godrej Properties at top
India's top 26 listed real estate companies recorded nearly Rs 35,000 crore in property sales during the September quarter, fueled largely by residential sales. Godrej Properties led the pack with Rs 5,198 crore in sales bookings, followed by Macrotech Developers and Max Estates.
Moneytree realty targets 30% growth, to reach Rs 1,000 crore sale in 2025
Moneytree Realty predicts a 30% rise in sales value. The firm aims to reach Rs 1,000 crore in sales by 2025. Partnerships with developers in major cities and a focus on the booming residential segment are driving growth. The company sees high demand for luxury properties and fractional ownership options.
NCLAT limits insolvency against Raheja to one project only, seeks report for other projects
The National Company Law Appellate Tribunal (NCLAT) has narrowed down insolvency proceedings against Raheja Developers to just its 'Raheja Shilas' project. The tribunal has also requested a detailed report from the Interim Resolution Professional (IRP) on the status of Raheja Developers' other projects.
Nippon Life India buys office in Mumbai¡¯s Lower Parel for Rs 486 cr
Nippon Life India Asset Management is set to acquire a two-floor office space in Mumbai's Lower Parel from Lodha for Rs 486 crore. The asset management firm plans to relocate its headquarters to this new 52,162 sq ft space. The deal was finalized on Thursday, with a significant portion of the payment already made.
Signature Global to exceed FY25 sales bookings target of Rs 10,000 crore on strong demand: Chairman
Signature Global Ltd is poised to surpass its sales bookings target of Rs 10,000 crore. The realty firm has already achieved Rs 5,900 crore in the first half of the fiscal year. Strong housing demand in the Gurugram property market is driving the growth. The company plans to launch new projects in the second half of the fiscal year.
NCLT grants approval to Mahindra Homes¡¯ share capital reduction plan
Mahindra Homes, a joint venture between Mahindra Lifespace Developers and Actis, has received approval from the National Company Law Tribunal (NCLT) for its capital reduction proposal. The move, which involves canceling certain equity shares, will optimize capital allocation without impacting ongoing projects or homebuyer interests.
Raheja Developers moves NCLAT against insolvency
Raheja Developers is facing insolvency proceedings initiated by flat buyers of its Gurugram-based Shilas project. The buyers allege a default of Rs 112.90 crore due to non-delivery of units. Raheja Developers, however, claims the delay was due to unforeseen circumstances. The case is now before the National Company Law Appellate Tribunal (NCLAT).
Godrej buys 53-acre land in Kolkata to develop Rs 500 crore residential project
Godrej Properties has purchased a 53-acre plot in Kolkata's Joka neighborhood with plans to create a residential development. The project is anticipated to bring in about Rs 500 crore in revenue and span an estimated 1.3 million square feet of saleable space.
Kalpataru Advay¡ªBorivali gets an Illustrious residential landmark
Kalpataru Group is developing Kalpataru Advay, a 44-floor residential tower in Borivali, Mumbai. The project offers spacious apartments with balconies, over 50 amenities, and a central podium with open spaces. With its convenient location and luxurious features, Kalpataru Advay aims to provide a tranquil and upscale living experience. The project is expected to be finished by June 2030.
Prestige Group expands in Mumbai with Rs 291 cr land acquisition for residential project
Bengaluru-based Prestige Group is expanding its presence in Mumbai by acquiring 22,135 square meters of land for Rs 291.58 crore. The land, located in the Mira Bhayandar Municipal Corporation area, will be developed into a residential project with an estimated 1 million square feet of carpet area. This acquisition aligns with Prestige Group's strategic expansion plans in India's commercial capital.
Mid-sized developers construct a comeback amid real estate boom
India's real estate sector is experiencing a surge in sales. Mid-sized firms are making a comeback. These firms are focusing on niche developments and catering to changing consumer preferences. The revival follows a period of consolidation after regulatory reforms in 2017. Mid-sized firms are capitalising on the increased demand for residential properties in major cities.
Industrial Investment Trust Limited to launch real estate focused Rs 500 crore AIF
Industrial Investment Trust Limited (IITL) is launching a Rs 500 crore Alternative Investment Fund (AIF) to capitalize on India's booming real estate sector. The fund will focus on residential and commercial projects in Tier 1 and Tier 2 cities, partnering with top developers. IITL is also establishing a Housing Finance Company to facilitate homeownership.
Keystone Realtors expects to surpass Rs 4,000 cr FY25 projects addition guidance
Keystone Realtors, operating as Rustomjee, is set to surpass its target of adding Rs 4,000 crore worth of projects in FY24-25. They've already added over Rs 2,300 crore in the first half, including forays into redevelopment and plotted developments. With a robust pipeline and over Rs 900 crore in dry powder, the company is well-positioned for continued growth.
Signature Global reports pre-sales of Rs 5,900 crore in H1FY25
Signature Global, a realty developer, reported strong half-year results, driven by robust sales in its Gurugram projects. Pre-sales surged 184% YoY, reaching Rs 2,780 crore in Q2FY25, fueled by new launches. The company remains optimistic about the NCR market and aims to achieve Rs 10,000 crore in sales in FY25.
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